Tag Archives: courtesy ford

A painful but potentially rejuvenating process has come to
an end on Poulsbo’s Viking Avenue.

A Kitsap County Superior Court judge approved a motion June
26 terminating receivership for the former Courtesy Auto Group
properties.

All told, six parcels formerly owned by the Hern family
have been sold since 2013, fetching about $4.6 million.

The properties were home to a number of Courtesy Auto
dealerships, forming the core of Poulsbo’s once-bustling
automotive corridor.

Union Bank successfully petitioned the court to appoint a
receiver for the properties in 2011, seeking repayment of
a $10 million loan made by Frontier Bank to the Herns in 2009.
Union Bank took over the loan after
Frontier failed in 2010.

Here’s a look at the Courtesy Auto properties sold and
what businesses are there now:

1. Chevrolet building — $1.4 million

Sold on: April
10, 2013

Sold to: Christina and Scott Hensrude

Current assessed value: $1.09
million

Description: 1.43 acres with a
16,350-square-foot showroom at 19873 Viking Ave. NW, on the
southwest corner of Edvard Street and Viking.

The East Bremerton American Legion post, Poulsbo’s Courtesy Ford
dealership, a historic Bainbridge house and several industrial
properties were among the notable commercial real estate sales
of January.

Overall, 17 parcels changed hands for a total of $14.11 million
last month, according to
assessor’s data. Here’s a look at a few high-profile
transactions:

East Bremerton American Legion — $325,000

Sale
date: Jan. 7

Assessed value: $637,140

Sold by: 2010 1 CRE WA Retail, LLC., to
The Filipino American Association of Kitsap

Description: A 9,000-square-foot building
on 0.7 acres off Sheridan Road, just east of Wheaton Way in
Bremerton.

General manager Mark Hood said the brewery was unable to reach
terms with Courtesy Ford owners after four months of negotiation.
Price was not the issue he said, declining to elaborate.

Instead of growing into
the former car dealership, Sound Brewery will install a new,
“high-tech” brewhouse in a 5,800-square-foot building across from
Bovela Lane. The tasting room will remain at the brewery’s Bovela
location, Hood said.

Sound Brewery will migrate production across to the new
brewhouse over the next two years, while upgrading the existing
tasting room. The company isn’t done searching for a larger
location, Hood said.

“We’ll continue looking for other options in the area that will
allow us to better serve our local customers, who’ve really made
this expansion possible, and necessary,” Hood said.

Sound Brewery opened in 2011, the largest of a bevy of new
brewhouses in North Kitsap.

Courtesy Ford closed in 2011. The 40,000-square-foot
building and 4-acre property
are listed for $2.35 million. Recently Kitsap Children’s
Musical Theatre has used the building for rehearsal space.